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Recent Topicals

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CMMF Fact Sheet July 2020

Aug 3, 2020

1. FUND PERFOMANCE * Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns since inception. 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn Money Market Fund is a low-risk fund that seeks to obtain a high level of current income while protecting investor’s capital and liquidity. Portfolio Strategy The portfolio objective will be to outperform the income yield available on money market call accounts and fixed deposit accounts by investing in interest-bearing securities and other short-term money market instruments. These securities are usually available to the wholesale or i...

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Nairobi Metropolitan 2020 Residential Report

Jul 26, 2020

This week our focus is on the Nairobi Metropolitan Area (NMA) residential sector. We showcase the sector’s performance in the region in terms of price appreciation, rental yields and market uptake, based on research on 38 areas located within the Nairobi Metropolis. We also look at the recent developments impacting the sector as well as factors that are expected to shape demand and supply and conclude with a look at the investment opportunities as well as the sector’s overall outlook for the next financial year. As such, we shall look at the following: Overview of the Residential Sector, Recent Developments, Residential Market Performance, Investment Opportunity, and Conclusion Section I: Overview of the Residential Sector In 2019, the residential sector was marked by increasing affordability concerns amongst homebuyers amidst rising costs...

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Kenya’s Public Debt

Jul 19, 2020

Introduction Over the past few years, Kenya’s Public Debt has been on the rise as a result of the government’s ambitious development agenda evident in the country’s budgets over the last ten years.  We have seen a couple of rating agencies relook at the country’s Sovereign Credit Outlook and change them to a more negative outlook. Below is a summary of those: In May, Moody’s Credit Agency released its rating outlook where it changed Kenya’s sovereign credit outlook to “negative”, from a previous outlook of “stable”, but affirmed the earlier on B2 credit rating. The agency highlighted that the negative outlook was a result of rising financial risks brought about by the country’s large borrowing requirements especially during this time where the fiscal outlook is deteriorating, given the erosion of the revenue base and the high debt and increased interest burden. According t...

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Nairobi Metropolitan Area (NMA) Land Report 2020

Jul 12, 2020

In June 2019, we published the Cytonn H1’2019 Market Review which highlighted the land sector’s performance in the Nairobi Metropolitan Area. According to the report, the land sector recorded a 0.5% y/y decline in asking prices, 4.3% points lower than the 3.8% growth rate in 2017/18, attributed to an overall slowdown in real estate investment during the year. Despite the rest of the zones recording a decline in asking prices, unserviced land in satellite towns such as Ruiru and Limuru registered a 3.9% annual capital appreciation on average during the year, attributed to the relatively high demand for land in these areas fueled by the affordable housing initiative which has been a key focus sector by both the government and private sector players. This week, we update that report with 2019/2020 research data, highlighting the land sector’s performance in the Nairobi Metropolit...

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Equity Fund Fact Sheet June'20-min

Jul 8, 2020

1. FUND PERFOMANCE *Aggregate percent amount that your investment would have gained since the fund started (01-August-2019) **Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns since inception. 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn Equity Fund is a moderate to high-risk fund that seeks to generate long-term capital growth and endeavors to maximize the total return to investors over the long term by investing in both listed and unlisted equity securities. Portfolio Strategy The Fund seeks to invest in companies with low valuation and good growth potential while providing su cient stability by investing in relatively mature companies. The key...

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